Cummins Q2 EPS $5.05 Misses $5.19 Estimate, Sales $8.60B Beat $8.24B Estimate
Portfolio Pulse from Benzinga Newsdesk
Cummins (NYSE:CMI) reported Q2 earnings of $5.05 per share, missing the analyst consensus estimate of $5.19 by 2.7%. However, the company's quarterly sales of $8.60 billion beat the estimate of $8.24 billion by 4.37%. This represents a 5.87% increase in earnings and a 30.58% increase in sales compared to the same period last year.
August 04, 2023 | 1:02 pm
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Cummins' Q2 earnings missed estimates but sales exceeded expectations, indicating mixed performance.
Cummins' earnings miss could negatively impact investor sentiment, potentially leading to a short-term drop in stock price. However, the strong sales performance could offset this, leading to a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100